Saia (SAIA) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research lowered shares of Saia (NASDAQ:SAIA) from a buy rating to a hold rating in a research note published on Friday morning.

According to Zacks, “Saia Inc., is a leading multi-regional less-than-truckload (LTL) carrier. It is a leading transportation company that provides a variety of trucking transportation and supply chain solutions to a broad range of industries, including the retail, petrochemical and manufacturing industries. Saia Inc., serves a wide variety of customers by offering regional, interregional and national LTL services and selected TL services across the United States. It offers customers a wide range of less-than-truckload, non-asset truckload, and logistic services. Saia LTL Freight operates 152 terminals in 38 states and is headquartered in Johns Creek, Georgia. “

A number of other research analysts have also commented on SAIA. Stifel Nicolaus lowered shares of Saia to a hold rating in a research note on Monday, June 18th. They noted that the move was a valuation call. BidaskClub lowered shares of Saia from a buy rating to a hold rating in a research note on Friday, July 6th. Cowen raised their price objective on shares of Saia from $80.00 to $84.00 and gave the company a market perform rating in a research note on Thursday, August 2nd. Deutsche Bank initiated coverage on shares of Saia in a research note on Tuesday, September 4th. They set a hold rating and a $77.00 price objective on the stock. Finally, ValuEngine lowered shares of Saia from a buy rating to a hold rating in a research note on Tuesday, October 2nd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $77.43.

NASDAQ SAIA opened at $67.42 on Friday. Saia has a 12 month low of $55.16 and a 12 month high of $87.05. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.22. The company has a market cap of $1.96 billion, a P/E ratio of 30.79 and a beta of 0.80.

Saia (NASDAQ:SAIA) last posted its quarterly earnings data on Wednesday, August 1st. The transportation company reported $1.15 EPS for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.04. Saia had a net margin of 7.45% and a return on equity of 13.38%. The business had revenue of $428.73 million for the quarter, compared to analyst estimates of $416.95 million. During the same quarter last year, the business earned $0.68 earnings per share. The business’s revenue for the quarter was up 17.7% on a year-over-year basis. Sell-side analysts predict that Saia will post 3.86 EPS for the current fiscal year.

In related news, Director Jeffrey C. Ward sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $76.01, for a total transaction of $76,010.00. Following the completion of the sale, the director now directly owns 8,279 shares in the company, valued at $629,286.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.10% of the company’s stock.

Large investors have recently modified their holdings of the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in Saia during the second quarter worth approximately $439,000. Principal Financial Group Inc. boosted its holdings in Saia by 3.4% during the first quarter. Principal Financial Group Inc. now owns 201,421 shares of the transportation company’s stock worth $15,137,000 after buying an additional 6,589 shares in the last quarter. Congress Asset Management Co. MA boosted its holdings in Saia by 13.3% during the second quarter. Congress Asset Management Co. MA now owns 18,237 shares of the transportation company’s stock worth $1,474,000 after buying an additional 2,145 shares in the last quarter. Alps Advisors Inc. boosted its holdings in Saia by 14.0% during the second quarter. Alps Advisors Inc. now owns 8,633 shares of the transportation company’s stock worth $698,000 after buying an additional 1,063 shares in the last quarter. Finally, Citadel Advisors LLC boosted its holdings in Saia by 846.0% during the second quarter. Citadel Advisors LLC now owns 85,498 shares of the transportation company’s stock worth $6,913,000 after buying an additional 76,460 shares in the last quarter. Hedge funds and other institutional investors own 99.39% of the company’s stock.

About Saia

Saia, Inc, through its wholly-owned subsidiaries, operates as a transportation company in North America. The company provides regional and interregional less-than-truckload services for shipments between 100 and 10,000 pounds; truckload services; and other value-added services, including non-asset truckload, expedited, and logistics services.

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